Better Not Risk It! (April 15 Newsletter)

Post 47 of 53

Black List

In order to prevent repeated access of fraudulent users, we maintain updated lists of credit card numbers, email accounts and IP addresses that have been associated with inappropriate use, ChargeBacks or reported as fraudulent by the issuing bank. These lists are also known as “Black Lists”.

Our systems use these lists to block such users in real time.

You can see the specific error codes associated with these transactions in our backoffice. These will show as:

BL_EMAIL – Black listed email address

BL_IP – Black listed IP address

BL_EN_CC_NUMBER_ID – Black listed Credit card number

If for some reason you believe that a user has been added to our Black Lists in error, please contact our risk team at riskalerts@algocharge.com and this will be further investigated.

Velocity Filters

The Credit Card associations (Visa, MasterCard, American Express etc) measure the number of Chargebacks and fraudulent transactions processed via a specific account. Fines are imposed, and in many cases accounts are terminated when CB and fraud parameters exceed the defined limits.

Furthermore, repeated usage of Credit Card over a short time period, or a high number of transactions generated from a specific IP address are an indication of fraudulent usage.

In order to limit the risk of such fines and prevent termination of the merchant account, velocity filters are applied.

Our systems will block such transactions that exceed the limits set for the specific merchant account in real time.

You can see the specific error codes associated with these transactions in our backoffice. These will show as:

VEL_EMAIL_COUNT >= n – More than “n” transactions have been processed on the same email address over the last 24 hours.

VEL_ CC_NUMBER_COUNT >= n – More than “n” transactions have been processed on the same Credit Card number over the last 24 hours.

VEL_ IP_COUNT >= n – More than “n” transactions have been processed on the same IP Address over the last 24 hours.

These filters can be applied on time periods greater than 24 hours.

Risk Alerts

Our risk team is continuously monitoring your traffic, in real time and offline, looking for signs of fraudulent or inappropriate activity.  Abnormalities and known risk factors are investigated, and appropriate action taken. When we encounter them – we immediately notify you.

It is very important that you carefully read these alerts and respond to them, even if it is only to let us know that you’ve seen and read them.

If you currently are not receiving such alerts, please verify with your AlgoCharge account manager that your email is updated on the appropriate distribution lists.

We also urge you to communicate with us via risk@algocharge.com regarding any potential risk related question you may have.

This article was written by admin_algocharge

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